tax break

Apple Predicted to Repatriate $200 Billion of its Overseas Cash

A recent note issued by GBH Research has estimated that Apple will take advantage of the new U.S. tax law and will repatriate around $200 billion of its $252 billion foreign cash hoard, 9to5Mac is reporting. The firm has claimed that the tech giant will spend the cash in accelerated buybacks, another dividend hike, and potentially larger M&A, all of...

Apple Denies Getting Unfair State Aid in Ireland

Apple pays all taxes due in Ireland and doesn't get an unfair advantage compared with other companies there, Cathy Kearney, vice president of Apple's European operations in Cork, Ireland, has told a panel of EU lawmakers, reports Bloomberg. “We feel that we’ve paid every cent of tax that is due in Ireland,” Kearney said at...

No Imminent Ruling in Apple Tax Case, Says EU Competition Chief

The ruling on Apple’s tax affairs in Ireland was originally expected last Christmas, but was postponed. Today however, Bloomberg has posted on the European Commission’s probe on their tax affairs, citing EU competition chief Margrethe Vestager and suggesting that it won’t come anytime soon. “Don’t hold your breath,” she told reporters in Brussels on Monday […]

Ireland to Eliminate ‘Double Irish’ Tax Scheme, Will Affect Apple and More

The Irish government aims to eliminate the "Double Irish" tax loophole that the European Commission and US Senators have repeatedly mentioned when referring to Apple’s tax practices. The move seems to reflect growing pressure from multiple parties — regulators, international organizations, and consumers — to end the tax provision multinationals have been exploiting (via the...

EU Commission Announces Apple Tax Break Investigations

In line with previous "worrisome" reports, the European Union’s competition commissioner, Joaquin Almunia, opened a formal investigation of Apple’s Irish tax deal today. The commissioner will also investigate Starbucks in the Netherlands and Fiat Finance and Trade in Luxembourg (via the New York Times). “In the current context of tight public budgets, it is particularly...